The 26-year-old pop star and Liam, 29, recently announced their separation after less than 12 months of marriage, but according to an insider, their families hope they will take some time to reconsider the move.
The insider shared: "Their families have urged them to take some time to breathe before they make any final decisions.
"They are both upset about how this has blown up and are both hurting right now."
The high-profile duo tied the knot in December 2018, but decided to go their separate ways after their priorities changed.
More specifically, it's claimed that Miley "outgrew" her party-loving ways of the past.
The insider explained to E! News: "Liam was continuing to party with his friends. They used to party, but Miley outgrew that phase."
Meanwhile, a source close to Miley previously claimed that the chart-topping singer is having a "hard time" letting go of Liam.